The Federal Governmentof Nigeria has said it is targeting to raise $10 billion to increase the foreign exchange liquidity to stabilise the Naira.
According to a statement on the official X handle of Vice President Kashim Shettima, President Bola Tinubu disclosed this on Tuesday in Abuja during the inaugural Public Wealth Management Conference organised by the Ministry of Finance Incorporated (MOFI) with the theme, ‘Championing Nigeria’s Economic Prosperity’.
The President, who was represented by the Vice President, highlighted a low-hanging fruit of identifying, consolidating, and maximizing returns on government-owned assets worth trillions of naira.
Following the unification of forex rate by the Tinubu administration in June 2023, the Naira has been on a free fall, moving from N700/$1 to over N1500/$1.